Highly Compensated Employee 2024 Exempt Status. A highly compensated employee is deemed exempt under section 13 (a) (1) if: Under the federal fair labor standards act (flsa), employees generally must be paid an overtime premium of 1.5.

For highly compensated employees (hces), the threshold would increase from $107,432 to $132,964 annually, effective 7/1/2024, and again to $151,164 on. For highly compensated employees, the minimum salary for exempt status will increase from $107,432 per year to $132,964 per year as of july 1, 2024, and will.